Question: A highway project is expected to cost ( $ 1 , 3 0 0 , 0 0 0 ) initially. The annual

A highway project is expected to cost \(\$ 1,300,000\) initially. The annual operating and maintenance cost after the first year is \(\$ 5,000\) and will increase by \(\$ 500\) each year for a project lifespan of 20 years. At the end of the tenth year, the project must be resurfaced at a cost of \(\$ 350,000\).
(a) Calculate the present worth of costs (in dollars) for this project over a 20-year period if the annual interest rate is 5 percent. \$
(b) Convert the value obtained in part (a) to equivalent uniform annual costs. (Enter your answer in dollars as a positive value.)\(\$ \)
A highway project is expected to cost \ ( \ $ 1 ,

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